Ruled Unconstitutional: Student Loan Forgiveness
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This is related to Missouri & several other states’ suit.
“Things aren’t going well for President Biden’s student loan cancellation. On Monday the Eighth Circuit Court of Appeals enjoined the $400 billion write-off, its second legal defeat in days. This is what happens when the President subverts the law for election politics.”
Probably paywall: https://www.wsj.com/articles/joe-bi...i-eighth-circuit-court-of-appeals-11668467087
“Things aren’t going well for President Biden’s student loan cancellation. On Monday the Eighth Circuit Court of Appeals enjoined the $400 billion write-off, its second legal defeat in days. This is what happens when the President subverts the law for election politics.”
Probably paywall: https://www.wsj.com/articles/joe-bi...i-eighth-circuit-court-of-appeals-11668467087
It depends on how they were going to do it. If it was a cancelation of federally held debt, it would have resulted in a small amount of deflation. That would have vaporized roughly 1/50th of the total currency supply.
I'm sure they would have figured out a way to make it extra inflationary, tho...
SCOTUS fast tracking the issue.
“The court, in an unsigned order, didn’t act on the administration’s emergency request that it be allowed to move forward with the debt relief immediately. But the justices set arguments on the matter for this winter, agreeing to the White House’s alternative request that the court take up the case now to decide whether the debt forgiveness is a lawful exercise of presidential power.”
Probably paywall: https://www.wsj.com/articles/suprem...-provide-mass-student-debt-relief-11669925171
“The court, in an unsigned order, didn’t act on the administration’s emergency request that it be allowed to move forward with the debt relief immediately. But the justices set arguments on the matter for this winter, agreeing to the White House’s alternative request that the court take up the case now to decide whether the debt forgiveness is a lawful exercise of presidential power.”
Probably paywall: https://www.wsj.com/articles/suprem...-provide-mass-student-debt-relief-11669925171
They already have a plan around it, which I said they would do. They will just defer the payments 100 years.
Good luck LOL
SCOTUS on a roll.
The Supreme Court threw out the Biden administration’s plan to forgive student loans held by 40 million Americans, dealing a blow to a $430 billion program the White House considers a crucial way to cement the president’s support among younger Americans.
Chief Justice John Roberts highlighted the hardship that fell on those who hadn’t taken on student debt. Imagine, he said, a high-school graduate who borrowed money to set up a lawn-care business, while a classmate instead went to college on a student loan.
“Nobody is telling the person who is trying to set up the lawn-service business that he does not have to pay his loan,” Roberts said, “even though his tax dollars are” subsidizing his classmate.
The Supreme Court threw out the Biden administration’s plan to forgive student loans held by 40 million Americans, dealing a blow to a $430 billion program the White House considers a crucial way to cement the president’s support among younger Americans.
Chief Justice John Roberts highlighted the hardship that fell on those who hadn’t taken on student debt. Imagine, he said, a high-school graduate who borrowed money to set up a lawn-care business, while a classmate instead went to college on a student loan.
“Nobody is telling the person who is trying to set up the lawn-service business that he does not have to pay his loan,” Roberts said, “even though his tax dollars are” subsidizing his classmate.
